US Stocks End Higher as Investors Eye Fed Meeting
The US stock indices ended higher on Friday after a four-day losing streak, but still finished lower for the week due to inflation and rate hike concerns.
Odds of a September rate hike stood at nearly 90% according to the CME FedWatch tool, with investors closely watching inflation numbers to gauge the Federal Reserve's decision next week.
The S&P 500 rose 0.9%, while the Dow Jones Industrial Average added 1%. Microsoft Corp., Dell Technologies, and Hewlett Packard Enterprise were among the top gainers in the S&P 500 after strong Oracle results and capex plans.
Consumer inflation expanded 0.4% sequentially and 3.4% on an annualized basis in August, matching consensus expectations. Core CPI advanced 0.3% month-over-month, marginally topping projections.